456 people compete in a deadly battle for a large sum of money. That was the simple but effective premise of the South Korean series “Squid Game,” which went from nothing to a global phenomenon in 2021 and one of the most profitable productions in Netflix history.
The basic story of “Squid Game” can also be read as a bit of a metaphor: After all, everyone wanted a piece of the estimated $900 million the streaming service made from the dystopian action series — but while Netflix’s management team may have been wringing their hands, Of all people, the creator, director and screenwriter of the worldwide success had to settle for a small piece of the pie…
Hwang Don-hyuk: “It’s not like Netflix pays me a bonus”
Like Hwang Dong-hyuk from the British daily When asked if he would be as rich as a winner of the “Squid Game” he had to say no. ‘I’m not that rich’ said the 52-year-old. “But I have enough to put food on the table. And it’s not like Netflix is paying me a bonus. Netflix paid me according to the original contract.”
A core demand of the ongoing screenwriters’ strike in Hollywood is that they should be paid higher not only in principle, but also in the form of streaming royalties (so-called ) also shares in the profits of the relevant series.
Like his American colleagues, Hwang was only paid per episode, which shouldn’t have been that much considering the first season’s only nine episodes – especially since no one could have imagined how incredibly lucrative ‘Squid Game’ would actually be. The director and author also had to relinquish their intellectual property rights when signing the contract. Participation: The artist who made it possible didn’t see much of the $900 million in revenue Netflix would have generated from the hit series.
That’s why series like ‘Squid Game’ are so lucrative for Netflix
Due to the currently derelict American film industry, Netflix has announced that it will now focus even more on the international market and, in the wake of the success of ‘Squid Game’, will also significantly increase investments in South Korean productions. This is also so rewarding for the streaming giant because because an episode of ‘Squid Game’ cost only a quarter of what an American series like ‘Stranger things‘ devoured per episode.
Shouldn’t there be better pay for creatives? Hwang admits in the interview: that “Squid Game” probably would never have happened without Netflix’s involvement – Netflix’s interest in films and series from South Korea is also a ray of hope for many filmmakers, because the streaming service not only grants makers higher budgets than traditional television channels, but also more creative freedom.
However, the showrunner is still critical of the business model in its current form: “To make the next ‘Squid Game’ or a new ‘Parasite’ possible, the filmmakers’ livelihoods must be secured,” Hwang said. Filming has begun on the highly anticipated second season of “Squid Game,” although fans will likely have to wait until 2025 to see the outcome. Hwang has been hesitant to take over for Season 2 for a long time. It is hoped that conditions will have improved by then.